The Companies (Amendment) Bill 2009, which contains a number of tough new measures to ensure better compliance with company law, has been approved in the Dáil.
The bill contains a number of measures to improve the policing and enforcement powers of the Director of Corporate Enforcement in ensuring compliance with Companies Acts.
It improves the transparency of loans made by companies, that are licensed as banks, to their directors and those connected with them, and also amends provisions relating to Irish registered non-resident firms in order to meet EU concerns.
“The urgency given to providing a legislative basis for these proposals sends a strong signal nationally and internationally of this Government’s commitment to ensuring our companies operate to the highest standards,” said Minister for Trade and Commerce Billy Kelleher.